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Luxurious big LVMH is in talks to purchase French journal Paris Match from media conglomerate Lagardere SA, which is majority managed by Vincent Bollore’s Vivendi.
The proprietor of Louis Vuitton approached Lagardere with a bid and its board determined to pursue unique talks, the writer mentioned in its earnings assertion on Tuesday. The corporate, whose companies additionally embody journey retail, was taken over by Vivendi final 12 months.
A sale would broaden the media property of Bernard Arnault, the world’s third richest particular person. LVMH Moet Hennessy Louis Vuitton SE the posh conglomerate he controls, is already the proprietor of French enterprise every day Les Echos and nationwide newspaper Le Parisien.
Paris Match, a shiny picture journal with tales on celebrities and royals in addition to information reviews, is historically seen as an influential outlet that has typically boosted the possibilities of French presidential hopefuls.
LVMH couldn’t instantly be reached for remark.
By Benoit Berthelot
Study extra:
Bernard Arnault Buys Affect By means of Media Offers in France
The acquisition is a precursor to Arnault’s group taking part in a higher function in political actions.
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